Tuesday, July 18, 2017

America’s Secret Plan for the Debt Ceiling

Sometime this October, the federal government is going to
run out of money. It will be unable to borrow more until Congress agrees to
raise the debt ceiling, a vote that some Republicans want to use to shrink the
government. If lawmakers cannot resolve the debt ceiling issue, then the
government may employ what Bloomberg News on July 14 called a “once-secret plan
written by the Obama administration that would lead to the first-ever default
on U.S. debt.” “Bond traders are worried that [President] Donald Trump’s
Treasury secretary may have to use it,” reported Bloomberg.[more...]